BP will take a 43% stake in the solar energy developer and operator once the full commitment is fulfilled over a three-year period.
Oil and gas supplier BP agreed on Friday to invest $200m in UK-based solar power project developer and operator Lightsource over a three-year period as part of a strategic partnership.
BP’s investments will eventually give it a 43% stake in Lightsource, which will be renamed Lightsource BP, and two seats on its board of directors as part of the deal. The first $50m will be provided once the deal is closed.
Founded in 2010, Lightsource develops and operates utility-scale solar…
